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Twitter Really Wants to Buy a Major Music Streaming Service, Report Says

by Jacob Kleinman | June 5, 2014June 5, 2014 7:30 am EST


Last month Twitter almost bought SoundCloud in an effort to break into the music streaming business, but a new report from the Financial Times reveals the company also considered Pandora and Spotify as possible options. The deal would be valued at several billion dollars, making it Twitter’s largest acquisition ever.

Twitter has already abandoned its plans to acquire SoundCloud, The Wall Street Journal said recently, with one source claiming the ““numbers didn’t add up.” It’s unclear if the company is still considering a deal with either Pandora or Spotify, valued at $5 billion and $4 billion, respectively. However, according to the Financial Times Twitter hasn’t even met with either music streaming service, at least not in any official capacity.

Twitter’s recent attempts to buy its way into the music streaming business are reportedly the work of chief operating officer Ali Rowghani, who’s led the effort to redefine the company’s music strategy after shuttering Twitter #Music last year. It’s also unclear if Twitter can afford to make a multi-billion dollar acquisition at all. Unlike Apple, which recently bought Beats for $3 billion, the smaller company still isn’t profitable and only has a few billion dollars on hand.

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Jacob Kleinman

Jacob Kleinman has been working as a journalist online and in print since he arrived at Wesleyan University in 2007. After graduating, he took a...